§ 105-151.24. Credit for children. - North Carolina Statutes

§ 105‑151.24.  Creditfor children.

(a)        Credit. – Anindividual who is allowed a federal child tax credit under section 24 of theCode for the taxable year and whose adjusted gross income (AGI), as calculatedunder the Code, is less than the amount listed below is allowed a creditagainst the tax imposed by this Part in an amount equal to one hundred dollars($100.00) for each dependent child for whom the individual is allowed thefederal credit for the taxable year:

FilingStatus                                                                                  AGI

Married,filing jointly                                                                $100,000

Headof Household                                                                      80,000

Single                                                                                          60,000

Married,filing separately                                                              50,000.

(b)        Limitations. – Anonresident or part‑year resident who claims the credit allowed by thissection shall reduce the amount of the credit by multiplying it by the fractioncalculated under G.S. 105‑134.5(b) or (c), as appropriate. The creditallowed under this section may not exceed the amount of tax imposed by thisPart for the taxable year reduced by the sum of all credits allowed, exceptpayments of tax made by or on behalf of the taxpayer.(1995, c. 42, s. 3; 1998‑98,s. 69; 2001‑424, s. 34.20(a); 2002‑126, s. 30B.2(a), (b); 2003‑284,s. 39B.2.)